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First Capital Provides $6.8MM Facility to Advanced Pipeline Services

December 11, 2013, 07:00 AM
Filed Under: Energy Services

First Capital provided a $6.8 millioncredit facility to Advanced Pipeline Services, LLC, a provider of construction, installation, and maintenance services for oil and gas pipeline and field processing infrastructure. The senior credit facility consists of a $5 million working capital revolving line of credit and a $1.8 million term loan.

First Capital was referred to the company by Hasting Equity because of First Capital's knowledge and experience in the oil and gas industry.  The financing was used to replace the previous lender and to provide additional working capital to fund company growth.

"Advanced Pipeline Services is a great example of the type of company that benefits from First Capital's flexibility and speed in structuring customized transactions that meet the customer's specific needs," remarked Michel Lynch, Vice President and Regional Business Development Officer. "We were able to work with the company to create a facility that not only works for their current financing needs, but also provides for future growth."

"We were in need of a lender that could understand both our business and our industry," remarked Don Dickson, CEO of Advanced Pipeline Services. "First Capital was able to provide the additional working capital and flexibility we could not find through traditional lenders."

This transaction will be serviced by First Capital's ABL Central Region managed by John Curtis, EVP and ABL Central Region Manager.  For further information relating to this deal or interest in other financing provided by First Capital's ABL Central Region, please contact Mr. Curtis at (405) 917-1104.

First Capital provides working capital financing typically ranging from $2 million to $20 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $250 million.

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